Is there something in the water in Wisconsin?
I know you think I am going to talk about that ugly Asian Carp that is threatening the water’s of Lake Michigan, but I am really not that into fish so this is really more about what the heck is going on with the businesses in Wisconsin.
In JSONLINE there was a quick article on Friday about the Koss CFO Embezzlement case, today there is another company that is suing it’s former company officers for Fraud, http://www.jsonline.com/business/84825792.html.
Reading this article I have to again ask, what is in the water in Wisconsin, all of the companies of late have been regulated by the SEC, and yet they still may have profited outside the law for their own benefits.
Even in the article there are two sets of numbers of the amounts that the men profited, so there is no clear evidence in the article that they did anything wrong, it looks like a case of insider trading to some extent but I really don’t know, there is not enough information in the article to draw a conclusion, except in a separate case the following is listed as one of the rulings “The two men were barred from serving as officers or directors of public companies for five years.”
So is just a thing going around with big businesses that really don’t care about the bottom line, or are there that many businesses out there that really have no clue what is happening with their money.
The article on Thursday was about another Stockholder for the Koss Corp. suing Koss, http://www.jsonline.com/business/84754267.html (New shareholder suit seeks changes at Koss Corp.)
This latest suit is one of many more that will probably result, and like previous articles it really does show that the businesses no matter the size is responsible to more than just the company elite, but to the stockholders, as well in some cases the taxpayers.
There are cases all over all you need to do is look at big businesses and look at how they handle their daily office life, to know how they really deal with the real nickels and dimes that they are responsible for, unfortunately the normal for business is to look at the bottom line only, and that only is the beginning of their problems.
I can’t say that any of the persons in these stories are guilty, but I can tell you that this really doesn’t really bode well for the rest of us in the State, we really are either gullible to business persons, or we really don’t want to believe that persons can really do this.
I think it is more a case of people feeling entitled, that seems to be a theme going around lately, entitlement is the general theme of society and the difference between the haves, and the have not’s, unfortunately these cases are of the ones that already had, but felt they needed more.
My case was a little different, I needed to pay my bills, and had attempted to get the funds other ways, and I always intended to pay it back, but then isn’t the rule, the road to hell is paved with Good intentions?